Layer 2 Networks Surge to $6.31 Billion TVL as Bitcoin Hits $84,627 Amid Crypto Market Buzz
The cryptocurrency market is experiencing notable activity as the total value locked (TVL) on Layer 2 networks has surged to $6.31 billion, up from $6.13 billion yesterday. This increase reflects a growing interest in scaling solutions that enhance transaction speeds and reduce costs.
Among the top five Layer 2 networks, Base leads with a TVL of $2.85 billion, marking a slight increase of 3.50% from the previous day. Arbitrum follows closely with $2.54 billion, up by 2.57%. Other networks include Mantle at $269.64 million (+1.84%), Linea at $188.82 million (+2.75%), and Blast at $165.15 million (+1.98%).
In the broader market, Bitcoin's price has risen to $84,627, up from $84,344 yesterday. In contrast, Ethereum has seen a decline, currently priced at $2,163, down from $2,233.
Today, the fundraising landscape is also vibrant with a total of $205.50 million raised. The largest funding round comes from Figure, which secured $200 million, while FanTV raised $5.50 million. This week’s cumulative fundraising has reached $530.07 million.
In significant news, the FTX estate plans to unlock $1.57 billion in Solana tokens. The estate has already sold 41 million locked SOL at discounted prices to notable firms like Galaxy Digital and Pantera Capital. This move could impact the market dynamics for Solana significantly.
Furthermore, Bitcoin is poised for a potential game-changer as BlackRock, the world’s largest asset manager, has included Bitcoin in its $150 billion model portfolio for the first time. This development is being closely watched by investors and analysts alike.
In other news, Dubai is making strides in the tokenized real estate sector with a $1 billion initiative led by Damac Properties and the Mantra protocol. This project aims to unlock global investment opportunities through blockchain technology.
Finally, in a unique intersection of politics and technology, a company owned by Donald Trump has filed trademark applications for the word “TRUMP” in relation to a metaverse and NFT marketplace. This could signal a new venture into the digital asset space.
